Economy
Exploring the Best Forex Brokers in Sri Lanka: TU Experts’ Choice for 2023
To trade in financial markets successfully, you need to pick the right broker. Your money, profits, and opportunities rely on this choice. Traders Union (TU) experts have already done the hard work for you. They’ve reviewed and compared the top five Forex brokers in Sri Lanka for 2023, helping you make an informed decision.
Top Forex brokers in Sri Lanka
Here are the best Forex brokers in Sri Lanka for 2023, as reviewed by TU’s analysts:
- Tickmill
- Suitable for both beginners and professionals.
- Provides a range of account options, such as Classic, Pro, and VIP.
- Classic accounts have no fees and a transparent spread.
- Pro and VIP accounts are for advanced traders with low spreads.
- The minimum deposit is $100 for Classic and Pro accounts.
2. FxPro
- Offers narrow spreads and zero commissions for stock trading.
- Provides advanced tools and charting options for analysis.
- Supports various trading platforms and devices, including mobile.
- Incorporated TradingView charts into the FxPro mobile app.
3. Pocket Option
- Classic binary options trading conditions.
- Trade in currency pairs, stocks, commodities, and cryptocurrencies.
- The minimum initial deposit is $5, with subsequent balance requirements.
- The minimum bet size is $1.
4. Forex4you
- No minimum deposit requirement.
- Offers leverage up to 1:1000.
- Provides a variety of account types with different spreads.
- Access to over 150 trading instruments and copy trading through Share4you.
- Supports various deposit and withdrawal methods.
5. HFM
- Competitive trading conditions with a low minimum deposit.
- Leverage up to 1:500.
- Variable spreads with a minimum of 1 pip (zero for Zero accounts).
- These brokers offer different features, so consider your trading preferences and goals when choosing the right one for you.
Selecting the best Forex broker in Sri Lanka
Selecting a reliable Forex broker in Sri Lanka is crucial for traders. Here are key considerations advised by analysts at Traders Union:
- Regulation and licensing: ensure your chosen broker is regulated by a reputable financial authority to guarantee adherence to industry standards and provide a secure trading environment.
- Trading platform: opt for a broker offering a user-friendly and technologically advanced trading platform, as it plays a vital role in executing trades and managing your trading activity effectively.
- Security measures: prioritize brokers that prioritize the safety of your funds and personal information, including encryption technology and segregated client funds.
- Client service: choose a broker with responsive and efficient client support across multiple channels to address any concerns or issues that may arise during your trading journey.
Sri Lanka’s legitimacy of Forex trading
TU’s experts confirm that Forex trading in Sri Lanka is completely legal and carefully regulated by the Securities and Exchange Commission (SEC). The role of the SEC is to oversee and supervise the Forex market within the country. Their primary goal is to ensure that both Forex brokers and traders adhere to the appropriate regulations and guidelines. This regulatory framework serves to safeguard the interests of investors and uphold the integrity of the Forex industry in Sri Lanka.
Thanks to these regulations, the Forex market in Sri Lanka is known for its transparency, security, and adherence to fair trading practices. However, it’s important to be aware of certain limitations when it comes to Forex trading in Sri Lanka.
Firstly, only Forex brokers that are regulated by the SEC are permitted to offer their services in the country. Additionally, Sri Lankan residents are not allowed to engage in foreign currency trading on their own. Instead, Forex transactions are facilitated exclusively through approved banks and recognized financial organizations. These measures are in place to maintain the integrity and security of the Forex market in Sri Lanka while protecting the interests of its residents.
Conclusion
Choosing the right Forex broker in Sri Lanka is crucial for successful trading, and Traders Union has made this process easier for you by reviewing and comparing the top five brokers for 2023. Each broker has its unique features, so consider your preferences and goals when making your choice.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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